[INTC] update

In the backlink I continued my coverage of the H+S breakdown which I in fact called very early on.  In fact, newcomers can review several months worth of forecasting on these shares as summarized in this post.

Wave 5 could go as low as $8.  Of course, a lot of morons will come out of the woodwork late in the game predicting the end of the world simply because they are trend followers.  But I've pretty much stuck to my model on Intel for many quarters now.   For example, check out this post.   In it I provided a large scale EW model which is what I have been basing the near term scale models off of.  Yes, I was a few dollars early for wave 4 of that top rail of the expanding wedge but whether the peak would be $34 or $38 does not matter to the eventual target which is sub $10.  Notice that the slope of that red line for blue 5 below.  It is not arbitrary.  This is how quickly I expected/expect it to collapse.  That's because the financial system is already all hollowed out.  The con men have stolen the value out the back door and replaced it with IOUs called debt.  All of these IOUs are unpayable in size and so they will not be paid.  This is why I always refer to it as a Wimpy Economy.  I'll gladly pay you Tuesday for a hamburger today.  But Tuesday never comes.  The debt is allowed to just pile on and nobody says anything about it or even seems to care.  We are led to believe it is normal

I will be buying Intel with both hands down there and I expect at that time everyone will say that investing is dead and lawsuits will be flying around from Mark and Patsy American towards the banks and financial institutions (con men running an old con known as the Ponzi scheme).  Mark and Patsy will have a willing government there to push their case and we will finally see jail time for prominent bankers.

All of these EW defined predictions are a matter of public record in these pages.